Local Chinese HDG market faces weak demand

Thursday, 15 August 2019 14:05:33 (GMT+3)   |   Shanghai
       

During the week ending August 15, average prices in the Chinese domestic hot dip galvanized (HDG) market have edged down slightly, while transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the following table. 

During the given week, demand for HDG in China has been slack, resulting in insufficient orders and increased inventory levels. Although ferrous metal futures prices in China have moved on an upward trend as of the start of this week, participants in the local HDG market still lack confidence in the future prospects for the market. It is expected that HDG prices in the Chinese domestic market will move down further in the coming week. 

Product name

Spec.

Quality

City

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

Thick galvanized coils

1.0 mm x 1,250 mm x C

SGCC

Shanghai

Angang

4,840

688

↓20

Guangzhou

Angang

4,580

651

↓10

Boxing

Angang

4,870

693

↑20

Average

-

4,763

678

↓3

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,310

755

↓20

Guangzhou

Guofeng

4,750

676

↓10

Boxing

Fengming

4,690

667

↑20

Average

-

4,917

699

↓3

 

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB 7.03


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